Nasopharyngeal Cancer Market Shows Future Growth With Leading Industry like BRISTOL MYERS SQUIBB, SANOFI, MERCK, PFIZER, ELI LILLY AND COMPANY, NOVARTIS, HOFFMANN-LA ROCHE AND BIOCON

The global nasopharyngeal cancer market is projected to record a CAGR of approximately 2%, during the forecast period (2018-2023).

Growing Awareness towards Diagnosis and Treatment of Nasopharyngeal Cancer
There is a growing awareness towards diagnosis and treatment of nasopharyngeal cancer (NPC). Traditionally the public perception regarding nasopharyngeal cancer was very weak due to lack of government initiatives and low incidence rate of the disease. But, the rise in the number of NPC patients in North America region has changed this scenario. In the United States, nasopharyngeal carcinoma (NPC) is a rare malignancy of the upper digestive tract and has an incidence of less than 1 per 100,000. However, this disease has a well-documented regional and ethnic distribution such that individuals of Southern Chinese and Southeast Asian descent are up to 20-40 times more likely to develop NPC than individuals of European ethnicity. To increase the community awareness for ethnicities, which are predisposed to nasopharyngeal cancer, various primary healthcare centers have started awareness drive to increase the awareness on NPC. Consequently, greater adoption of NPC diagnosis and treatment is being witnessed, which is driving the growth of the global nasopharyngeal cancer market. Additionally, factors, like high prevalence of the NPC in regions of North America and Southern China, are also contributing to market growth.

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Radiation Therapy has the largest market share
Radiation therapy forms the primary modality of treatment in nasopharyngeal cancer. It is closely followed by chemotherapy in terms of both market share and use-case in patients. Newer and advanced modalities of nasopharyngeal cancer treatment include combination of both radiotherapy and chemotherapy techniques. These treatment modalities are still in early clinical phases and will make commercial appearance late during the end of forecast period or maybe even after that.

Major players –
BRISTOL MYERS SQUIBB, SANOFI, MERCK, PFIZER, ELI LILLY AND COMPANY, NOVARTIS, HOFFMANN-LA ROCHE AND BIOCON, among others.

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Considerably Low Incidence Rate of Disease
Cancer of the nasopharynx is one of the most common cancers of neck and head, yet their overall global prevalence is considerably low. This is primarily due to the fact, that the incidence rate of the disease is not uniform across various regions and there is high concentration of nasopharyngeal cancer patients in some regions while almost close to zero prevalence in most other regions. For example, in Asia the Southeast region has the highest prevalence of nasopharyngeal cancer with prevalence rate of approximately 15 patients per 100,000 people. The prevalence rate in US and other regions of the world is less than 1 per 100,000 people. Consequently, this orphan status of the disease in overall global setting hinders the growth of the global nasopharyngeal cancer market, as drug manufacturers do not find the related drug development a lucrative business option due to overall low global incidence. Additionally, factors, like adverse side effects associated with current therapies and drugs indicated for nasopharyngeal cancer and lack of financial backing for research & development of blockbuster drugs are hindering the market growth.

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